Fiscal Policy

Jumping off the Fiscal Cliff

The American people are once again being told of an impending financial catastrophe. Federal Reserve Chairman Benjamin S. Bernanke has said that America will plunge off a “fiscal cliff” if Congress doesn’t do something by January 1, 2013. Former Treasury secretary Robert Rubin has also warned of the dire consequences of Congress not doing something. And the firm JP Morgan ... [click for more]

Clinton’s Legacy: The Financial and Housing Meltdown

Bill Clinton is certainly full of himself these days. That might have something to do with the fact that no one is likely to ask why he hasn’t owned up to his share of the blame for the housing and financial bust. The former president is treated like an elder statesman whose tenure in office was so good that even ... [click for more]

Crisis Response

The fiscal and monetary response by the U.S. government and the Federal Reserve to the economic crisis has been to spend, to borrow, and to inflate the money supply. The result has been skyrocketing debt, continued economic stagnation, and monetary conditions conducive to hyperinflation. Congress passed the Troubled Asset Relief Program (TARP) in the fall of 2008, supposedly to avert ... [click for more]

America’s Collision with Economic Reality

The United States is headed toward a financial brick wall. Although the country has been on this collision course for decades, a number of recent events have sped up its pace, and the reckoning will probably come much sooner than most people expect. A few honest politicians and some sober economists and political pundits have been ... [click for more]

The Nonissue That’s Still an Issue

Let the voters beware. There are lots of Wimpies and Wilkins Micawbers who propose to expand deficits by spending more of your money now, with the promise that next year or five years from now the nation will have surpluses. This legerdemain allows candidates to skirt or ignore what is possibly the most important issue now, the issue ... [click for more]

The Anti-Fed Revolution

End the Fed by Ron Paul (New York: Grand Central Publishing, 2009), 212 pages. Through his 2008 presidential campaign, Ron Paul managed to make monetary policy a national political issue. For nearly a century it had been a relatively obscure topic, and throughout my lifetime respectable opinion considered it a fringe inclination even to be interested in it. ... [click for more]
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